Daily Price Action Forex Trading Strategies & System From Asia Forex Mentor
Trading Psychology – Conquering Your Emotions
A lot of traders can actually feel their emotions in place when they place their trades. And seeing their trades taking place.
Emotions include: - Heart Thumping (Beating faster) - Sense of Anxiety - Nervousness - Excitement - Irrational Behavior - Frustration - Desperation - Hatred & Revenge mindset - Devastated - Always feel that the market is going against you - Etc,
If you feel any of the above in trading, it is normal. The market is set for you to feel this way.
Which is why to be a successful trader, 80% is about conquering and mastering trading psychology.
And some of the reasons that you could be feeling any of the emotions above include: - You are trading way beyond your risk level (Trading too high an amount of your capital) - You have not calculated your proper risk size before entering - You entered based on Gut feel - You fully expect and anticipate that the market will go your way according to your previous experience or something which you had learnt – but it Didn’t.. - You are trading on a money that you desperately need. (Eg. borrowed money, food money, life saving money etc..) - Etc.
If you have experienced the above, stop trading for the moment.
Remedy: - Go get a shower and analyze what had gone wrong - Go for a stroll in the park, beach etc.. - Self Reflection - Meditation, calming exercise
Ask yourself, are you trading the right way? Are you actually trading or gambling? Do you have a proper trading system? Did you entered on proper setups (eg. price action) or you entered based on your gut feel?
Trading is about self analyzing, discipline, self control, and sticking to your trading system.
It may sound tough at first, but once you start practicing the stuffs here for 20 days. It will then become part of you and you are no longer putting any conscious effort in applying the above.
Start with learning and trading with a proper system today. Learn the full system at Asia Forex Mentor Price Action Forex Trading System
To an awesome trading as always, Ezekiel Chew Asia #1 Forex Mentor www.asiaforexmentor.com
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Thankyou for sharing it with us. Some helpful material is available for free on the website I think this post should be in General forum section.
Stick to your rules
Be Patient, Be disciplined. Thats all what you need to be a good trader. All problems written above will vanish only if you apply these 2 rules. I just read a post by Bee and it was really helpful. I think he is right. Just these 2 qualities can make you a good trader.
The good or ill of a man lies within his own will. – Epictetus
Even though I find this article very interesting, I must stress the fact that the psychological and emotional state of the trader are overrated as the cause for failure.
Many articles like this try to make us believe that the only problem is psychology, and that the markets are easy to trade....
Check Me At CheckDavid.com
Originally posted by CheckDavidEven though I find this article very interesting, I must stress the fact that the psychological and emotional state of the trader are overrated as the cause for failure.
Many articles like this try to make us believe that the only problem is psychology, and that the markets are easy to trade....
hmmm. I think psychological and emotional factors greatly affect our trades. These are not overrated. Because these things destroy most of our strategies.
Originally posted by illiterate
Originally posted by CheckDavid
Even though I find this article very interesting, I must stress the fact that the psychological and emotional state of the trader are overrated as the cause for failure.
Many articles like this try to make us believe that the only problem is psychology, and that the markets are easy to trade....
hmmm. I think psychological and emotional factors greatly affect our trades. These are not overrated. Because these things destroy most of our strategies.
Most people that use robots fail.
Most people that are not so prono to emotional factors also fail.
That's why that emotional story is just bullshit to me. Of course your emotional status can affect yuour trades, but this is greatly compounded with the fact that people might be using losing strategies.
Check Me At CheckDavid.com
Emotions include:
- Heart Thumping (Beating faster)
- Sense of Anxiety
- Nervousness
- Excitement
- Irrational Behavior
- Frustration
- Desperation
- Hatred & Revenge mindset
- Devastated
- Always feel that the market is going against you
- Etc,
I think these factors affect us but we are responsible for it. We get frustrated or depressed even though we know forex is unpredictable. We know anything can happen. But we invest everything into it and hope to make a living out of it. So with each trade our state of mind changes. I think we can control these things ourselves by understanding about forex trading. We have to accept the truth that forex trading is just like gambling with adjustable risk.
You have to stop revenge trading and you can control these things.
Originally posted by Jogi
Emotions include:
- Heart Thumping (Beating faster)
- Sense of Anxiety
- Nervousness
- Excitement
- Irrational Behavior
- Frustration
- Desperation
- Hatred & Revenge mindset
- Devastated
- Always feel that the market is going against you
- Etc,
I think these factors affect us but we are responsible for it. We get frustrated or depressed even though we know forex is unpredictable. We know anything can happen. But we invest everything into it and hope to make a living out of it. So with each trade our state of mind changes. I think we can control these things ourselves by understanding about forex trading. We have to accept the truth that forex trading is just like gambling with adjustable risk.
You have to stop revenge trading and you can control these things.
Exactly!
And appart from this, I think there is a problem, it is that emotions are seen as a cause rather than the effect, no one ever thinks about it or what?
Check Me At CheckDavid.com
Exactly!And appart from this, I think there is a problem, it is that emotions are seen as a cause rather than the effect, no one ever thinks about it or what?
There are tooooooooooooo many articles on this "emotions" thing. So readers see it as some "monstrous" problem.
Originally posted by JogiExactly!And appart from this, I think there is a problem, it is that emotions are seen as a cause rather than the effect, no one ever thinks about it or what?
There are tooooooooooooo many articles on this "emotions" thing. So readers see it as some "monstrous" problem.
Actually emotions are directly related to forex trading. Whether its an effect or a cause, different debate. The main article by asiaforexmentor is which factors can effect our trading. I think its true that emotional factor is one of them. Normally people do not consider it a factor effecting our trades which is wrong.
Originally posted by Champ
Originally posted by Jogi
Exactly!And appart from this, I think there is a problem, it is that emotions are seen as a cause rather than the effect, no one ever thinks about it or what?
There are tooooooooooooo many articles on this "emotions" thing. So readers see it as some "monstrous" problem.
Actually emotions are directly related to forex trading. Whether its an effect or a cause, different debate. The main article by asiaforexmentor is which factors can effect our trading. I think its true that emotional factor is one of them. Normally people do not consider it a factor effecting our trades which is wrong.
If their trades re being affected by the trader's emotions, then the problem are not the emotions per se, but simply the fact that the trader did not follow his plan and/or system.
Check Me At CheckDavid.com